China's central bank has announced that the newly established joint venture with the Belgium-based SWIFT financial messaging service will set up a localised data warehouse.
The localised data warehouse aims to monitor and analyse cross-border payment messaging. Due to unstable connectivity reported by some small Chinese banks affecting cross-border transactions, the new entity Finance Gateway Information Services will build a localised network to ensure a more stable, resilient, and secure connection to the main SWIFT network, the central bank added.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.